Assume that excess reserves are $10 million, demand deposits are $500 million, and total reserves are $135 million. The required reserve ratio is

As the Federal Trade Commission currently interprets the Herfindahl-Hirschman index (HHI), an industry is considered to be highly concentrated if the HHI value is above

A) 100. B) 1,000. C) 2,500. D) 5,000.

If the percentage change in quantity supplied is 10%, and the percentage change in price is 10%, then the supply for the good is

A. elastic. B. unit elastic. C. inelastic. D. perfectly inelastic.